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Iran halts authorized crypto mining to save energy for winter

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Local energy authorities have decided to shut down permitted cryptocurrency mining sites as Iran’s energy consumption rises over the winter.

Iran is shutting down crypto mining facilities again, according to Mostafa Rajabi Mashhadi, chairman of the board and managing director of Iran Grid Management Company (Tavanir), to cut liquid fuel use in power plants as temperatures drop.

According to Mashhadi, Iranian authorities took this step to minimise energy use last month, as reported by the Islamic Republic of Iran Broadcasting (IRIB) on December 25.

“The Energy Ministry has been adopting efforts to decrease the use of liquid fuels in power plants since last month,” he stated, “including lowering licenced crypto farms’ power supply, turning off lampposts in less unsafe regions, and strict consumption supervision”.

The president underlined the importance of energy conservation in the country. Encouraging residents to minimise their power and gas consumption as much as possible. According to local sources, heating buildings accounts for 70% of all fuel utilised in Iran. Energy usage is predicted to be reduced by at least 40% as a result of the new energy-saving measures.

Iranian Authorities striving to suppress illegal crypto activities  

The Iranian government has been striving to curb illegal crypto miners while enforcing regulations on approved crypto mining operations. Local energy authorities reported in late November that since the industry restrictions formed, they had confiscated a total of 222,000 mining machines used for illicit crypto mining.

Iran is a major crypto mining country, contributing 4.5% to 7% of the worldwide Bitcoin (BTC) hash rate. The country recently imposed a temporary blanket ban on crypto mining in the summer. Citing historically high demand for electricity owing to scorching temperatures. After the Iranian electricity grid stabilised, the embargo lifted in September.

Iranian Lawmakers Oppose Crypto Restrictions, Call for Supportive Regulations

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